Credit cards are ubiquitous with monetary transactions. Credit cards are used in a number of scenarios to purchase groceries, restaurant meals, retail products, on-line products, gas, or just about anything. Most often a cash or check transaction can be replaced a credit card transaction.
False charges create a tremendous burden on financial institution and card holder alike. A lost or stolen card can easily be used by an unauthorized user to make purchases. Within several hours of obtaining a lost or stolen card, a thief can fraudulently charge thousands of dollars before a notification process can stop use of the card.
Some safeguard procedures have been put into place:                Verify customer signature matches that on the back of the card.        Verify customer ID matches the name on the card.        Use sophisticated buying profiles to identify a potentially unauthorized purchase or possible theft        
However, these safeguard procedures are not always performed at the point of sale and they can slow the checkout process and reduce productivity of overall operations. In addition, such things as gas can be purchased without customer verification and many establishments do not require a signature for purchases under $50.
Therefore, a need exists to improve the authorization process in order to reduce the number of fraudulent purchases and make a credit card transaction more efficient.
Solutions to these problems have been long sought but prior developments have not taught or suggested any solutions and, thus, solutions to these problems have long eluded those skilled in the art.